A property tax reduction amendment is among the contests Florida voters will decide on this November.

At a July 9 forum hosted by the Above Board Chamber of Florida, regional leaders and experts spoke about what this amendment could mean for the future of Southwest Florida.

“Save Our Homes From Excessive Property Taxes”, or Amendment 3 as it will appear on the Election Day ballot, would increase the state’s homestead exemption for non-school property tax levies from today’s $50,000 to $150,000 in 2027 and then to $250,000 in 2028.

While this may save many Floridians thousands of dollars in property taxes, forum speakers said small counties like DeSoto, Glades, Hendry and Highlands counties could be hit harder by the amendment compared to larger ones like Lee and Collier counties due to differences in property values.

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Those four counties are considered fiscally constrained, according to a graphic from the Florida Department of Revenue.

Jeff Kottkamp, former Florida lieutenant governor from 2007 to 2011 and current President of Florida TaxWatch, said some counties and cities may go bankrupt.

“If this passes, they’re (small, rural counties) gonna have to come with their hands out and ask for money from the state unless we develop some sort of a dedicated fund because they right now can barely afford to operate,” he said.

The initial amendment proposed creating a pool of funds to help local governments manage the shortfall of revenue, but that proposal was removed after soon-to-be Florida House speaker Sam Garrison of Jacksonville opposed the idea.

If the property tax amendment passes, forum speakers said it will affect every county and municipality differently.

It’s why Collier County Commissioner Rick LoCastro said his county is better prepared for the potential losses in revenue thanks to recent changes in the county budget.

“Three years ago we decided as the five county commissioners that it was time to do a deep dive into our budget because we wanted to see if we could shake loose some additional funds for projects for hurricane renovations,” he said. “Now maybe those savings have to be redirected a bit if this passes, but Collier County is definitely more prepared.”

Cape Coral Mayor John Gunter, who is up for reelection this November, said that if the amendment passes, his city could see a loss of about $28 million in 2027 with the homestead exemption at $150,000 and about $47 million with a $250,000 exemption in 2028.

That shortfall in revenue could affect public services, but Gunter said core services in Cape Coral like public safety “would be fine.”

“Some of the other types of programs, events that we may put on, parks... we’ll have to take a look at those types of projects,” he said. “We all have an expectation of the quality of life in our community, and I think that we’re gonna have to take a look at that and see if we need to alter that in some way.”

Amendment 3 would require approval by more than 60% of voters this November to become law.

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